The City Council of New Franklin, Ohio, convened on May 25, 2025, to discuss a comprehensive financial review that could shape the city's fiscal future. The meeting highlighted the importance of understanding the city's current financial standing as it prepares for potential debt financing and capital projects.

The council introduced financial advisers from Davenport, who emphasized the need for a thorough analysis of the city's finances. This review aims to establish a five-year financial forecast, providing actionable recommendations for city officials. The advisers noted that over the past five years, New Franklin has successfully doubled its fund balances, largely due to increases in income and property taxes, as well as federal COVID relief funds. However, they cautioned that the city's fund balances remain below the median compared to similar Ohio cities.

A key point of discussion was the upcoming renewal of the fire levy, which generates approximately $3 million for the city's fire department. The advisers warned that if this levy is not renewed, the city would face significant financial challenges, as it would need to find alternative funding sources to maintain essential services.

The advisers also pointed out that New Franklin currently has a minimal debt profile, which positions the city favorably for future borrowing. However, they stressed the importance of developing formal financial policies to guide the city's fiscal management as it considers future capital projects estimated between $10 million and $15 million.

In conclusion, the council's focus on financial stability and proactive planning reflects a commitment to ensuring the city's long-term fiscal health. As New Franklin navigates potential changes in revenue streams and prepares for upcoming projects, the insights from the financial review will be crucial in guiding its decisions moving forward.